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From the Daily Express...
BRITAIN’S economy bounced back spectacularly yesterday with shares soaring and the pound on a 10-month high against the dollar. And as banks reported huge profits even the beleaguered manufacturing industry was rallying.
There was also good news in the housing market as a new report suggested prices in the UK will soar by as much as 20 per cent by 2014. On the same day that two banks, Barclays and HSBC, announced joint profits of nearly £6billion, the jump in the value of sterling sparked renewed optimism in the City.
The FTSE surged through the 4,700 barrier before closing at 4,682 – a massive turnaround since March when it was just above 3,500 points. At the same time Barclays revealed it was lending more money than expected to businesses and individuals this year, having advanced £17billion in the first six months against a target of £11billion for all 2009.
Tuesday, August 4, 2009
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